REG - Ascent Resources PLC - Update on US gas and helium investment

Ascent ResourcesAnnouncement

10/05/2024 07:00

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RNS Number : 8877N  Ascent Resources PLC  10 May 2024

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

10 May 2024

Ascent Resources plc

("Ascent" or the "Company")

 
Update on US gas and helium
investment

Ascent Resources Plc (LON: AST) is pleased to announce, further to its
investment into GNG Partners LLC (as announced 23 April) which owns the
60MMscfd Lisbon Valley gas and helium processing plant in Utah USA, that GNG
have provided the Company with an operational update following their first
full month of ownership of the operating business units. GNG have conducted an
extensive review of the status of the plant, which is overall in good working
condition. GNG are also doing basic plant maintenance and improvements which
includes restoration of the helium purification system which is expected to be
returned to service within 6-8 weeks, following which the plant is expected to
immediately resume sales of gaseous helium.

GNG have also advised Ascent that the Lisbon Valley plant is now on track to
have the 550Mscfd helium liquidation unit recommissioned and in operational
working order by the end of this calendar year.

The Company looks forward to providing further updates on its investment in US
onshore gas and helium processing in due course.

 

Enquiries:

 Ascent Resources plc                        Via Vigo Communications

 Andrew Dennan
 WH Ireland, Nominated Adviser & Broker      0207 220 1666

 James Joyce / Sarah Mather
 Novum Securities, Joint Broker              0207 399 9400

 Jon Belliss

 

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